Tuas Marine Centre – JTC Shifts Its Focus From Property To Project Management
JTC has been in the mega property structures for white some time. It has earned the repute of a well oil organization which can deliver delightful results. It has many mega projects to its credit which are testimony of the ability of the company to deliver requite results with dedication and innovation. It has also entered into many joint ventures with developers like CDL. Company has been recently actively studying the prospects to enlarge its share in the market. However, ever increasing regulation on property development has made many companies to start looking into other ventures to make sure they retain their traditional share of the market and their business remain adapt at adjusting to new business environments.
Singapore is known to have relatively small beaches and waterfronts. These sites are mostly owned by the state. However, a sizeable portion is owned by private enterprises. These smaller companies have yet not started to build onto this vast opportunity and space to materialize it into a successful business venture. Apart from any other reasons, prime reasons for this non-utilization is perhaps company lack the required capital and plans to develop any sort of structure there. The companies have neither entered into joint ventures nor have started individual projects.
Now JTC has envisaged brilliant plan to try to galvanise these individual companies into giant consortium so synergize the capital, technical knowhow and ability to conceive better plans. JTC has decided to do away with property related projects and enter into project management. Smaller companies are likely to be wooed in to join JTC and other mega companies in this pursuit.
JTC has put forward a plan to develop a precise engineering and medical technology project in the offshore marine centre in Tuas. This project is aimed at better coordination among the companied that own waterfronts and the ones willing to invest there. Else, others cannot think of any other way to gain access to these sites.
Moreover, JTC has also started studying the prospects for a complex which can have shared services and utilities. A cluster is being planned to be developed which can be co-used by all the companies. Major building blocks in this cluster are reported to be Medical centre, biologics facility and an aviation centre. This will enable all companies to jointly develop these facilities and then share these utilities. Henceforth, this business concept has not been tried on such a huge scale. The concept is most likely to persuade smaller companies to join and co-invest in to due to a host of obvious logistics advantages.
JTC has recently concluded the phase 1 of Seletar Aerospace Park. This has been closely studied by many other developers for possible replications. However, one of the other major projects that JTC is actively pursuing is the CleanTEch One, in the proximity of Nanyang Technological University. It is one of most environment friendly projects in the area. The facility will be using alternate and renewable energy resources including solar and bio waste products.
JTC management is reported to have said that most of their projects now will be long term based and focus will gradually shift from property to project management.
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